Hogan Lovells new CEO Steve Immelt has overhauled the firm’s International Management Committee (IMC), scrapping its co-head model four years after its merger.
According to sources Immelt decided it was the “right time” to drop the firm’s dual management structure, with co-heads of corporate Andrew Skipper and Stuart Stein to be replaced by Baltimore-based partner David Gibbons as of July 2014.
Litigation co-head Michael Davison, who previously headed up the practice with Immelt, will now be the sole practice leader of the group. Meanwhile David Hudd will be stepping down from the role of finance practice group head to become deputy CEO. He is being replaced by Paris-based finance partner Sharon Lewis.
There was no partner vote on the changes, which were decided by Immelt. However he was unable to change the constitution of the IMC, which needs a practice head and regional head for each area.
Other changes include Dennis Tracey stepping down as head of the Americas, to be replaced by Denver-based Cole Finegan. There will be an election for Cole’s replacement on the firm’s management board.
Meanwhile Christoph Kueppers will be stepping down from the role of regional managing partner for Continental Europe, to be replaced by Madrid-based Burkhart Goebel.
The firm has been gearing up for a change of leadership since it was announced that co-CEOs Warren Gorrell and David Harris are to step down in June, with the firm abolishing its dual-headed management structure (1 December 2013).
Immelt was the only name put forward for the role of sole CEO, following an “extensive consultation with partners” before his promotion went to vote last night. It had already been approved by the board and it is not known what percentage of partners had to vote in favour of the move.
The firm has also confirmed that global head of finance David Hudd is stepping up to become deputy CEO. Together they will serve a term of four years.
The roles take effect from 1 July 2014, and the IMC leadership team will then be:
- CEO – Steve Immelt
- Deputy CEO – David Hudd
- Corporate head – David Gibbons
- Finance head – Sharon Lewis
- Gov Reg head – Agnes Dover
- IPMT head – Andreas von Falck
- LAE head – Michael Davison
- Americas head – Cole Finegan
- Asia/Middle East head – Patrick Sherrington
- Continental Europe head – Burkhart Goebel
- UK and Africa head – Susan Bright
- Washington, DC head – Emily Yinger